Will there be another economic crises like three years back ?
By mastinet
@mastinet (467)
India
December 23, 2010 1:44pm CST
I want to know about your views that will there be again an economic crises ahead. The share markets are at boon this time all over. Will they fell down again like in 2008 ?
Economic slowdown in 2008 hit all over the world and made lakhs of people and companies suffer losses.
1 person likes this
6 responses
@LittleMel (8742)
• Canada
27 Dec 10
yes there will be, if humans don't 'wake up' and start living within their means
people are living within their means now, but they didn't before recession
many of us are hoarding, and this is perfectly OK if we use our own money, at least we are not accumulating interests
but this hoarding is mostly done on credit cards or loans, so at the end of the day, we actually pay more than we should and greed takes over humanity
not only that, people actually equate hoarding/consumerism with things that have nothing to do with money : love, status, pride, friendship, happiness, look etc
people start falling for good looks, not true beauty
anyone who doesn't have a big house or nice car, will not have friends
until all of us return to the truth, crisis after crisis will happen
@bird123 (10658)
• United States
23 Dec 10
It's not likely to happen any time soon. Just like this time and also in the great depression,when greed starts to overcome rational thought, you better watch out. I talked with a real estate lady. She said in 2006 if a person had any kind of a job they could qualify for a 500,000 loan on a house. Everyone wanted to make the money on the closing costs. Is it rational that a person making 8 dollars an hour pay could ever pay that much money back? To top it off the guy never paid principal. They paid only interest on a variable rate loan. As soon as the interest rates went up, they couldn't help but loose the house. Greed can get people to do all kinds of things, however at some point in time, REALITY must show up.
@TeamCholent (2832)
• United States
23 Dec 10
No there won't be as we are still in that recession. It takes years to recover from something as severe as the recession and crash of 3 years back(same scale as the great depression). Sure stock markets are starting to move forward but still not in amazing figures but there is a lot more to consider such as unemployment etc. We are very far from the levels most stock markets have seen recently and take a look at Europe, its a mess!
@Wefight (328)
•
23 Dec 10
Well i would say no we will not have anouther one soon as we are only just slowly coming out of this very annoying one that has made most households poor and the rich richer.The only way i think that this could ever happen is where there would have to be a double dip reccesion that could haoppen if the bankers or other rich people start to get to gready and get big bonuses again.
